Latin America Explosion Proof Equipment Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

Latin America Explosion Proof Equipment Industry Overview

The degree of competition in the explosion-proof equipment market is high due to the presence of electrical product manufacturers. The firm concentration ratio in major industry verticals is on the higher side due to the increasing demand for safety. Also, the increasing need for energy is a key factor enhancing the demand for the exploration of sources of natural resources, indirectly increasing the demand for Explosion-Proof Equipment in the Latin America Region. Some of the recent developments are:

• July 2021 - SAMCON Launched ExCam IPQ1785, an explosion-proof video camera that provides excellent picture quality for process monitoring and surveillance technologies (CCTV) in hazardous locations. The blast-resistant camera is authorized for hazardous areas (risk zones for dust and gas explosions) and is simple to install and maintain.
• August 2020 - Prumo, a private Brazilian company controlled by E.I.G. Global Energy Partners, bp, and Siemens, signed a binding agreement with SPIC Brasil. Under the agreement, SPIC will initially acquire 33% of the GNA I and GNA II LNG-to-power projects located in Port of Açu, Rio de Janeiro.
• March 2020 - R. STAHL LTD. partnered with Elite Control Systems, enabling both parties the ability to deliver the most robust and resilient hazardous area control systems available on the market today.